Friday, 27 March 2015

The first full term 2015 Financial Budget presented by the Modi Government for the financial year FY-16 is a really disappointing one, especially for the textiles sector. Many of the promises have not been kept and the lackluster budget didn’t allocate much funds to alleviate the woes of the textile industry.

Finance Minister Mr. Arun Jaitley has decided to boost infrastructure projects in this budget, which was a severe blow to the textile manufacturers since they expected some tax cuts in order to obtain a bias-free market. The saddest part is that there was no discernable mention of the Textile industry in the budget.